Coforge shares likely to hit Rs 9,000 mark in a year, here's why

Shares of IT sector firm Coforge Ltd have received a bullish call from Kotak Institutional Equities. 

The IT stock, which is down 16% in 2025 is expected to hit Rs 9,000 in a year by the brokerage. Kotak in its report refers to FY2026 as a defining year for Coforge. It valued the stock at 34X FY2027E EPS and retained its buy call.

Kotak listed out four factors behind its bullish stance. 

(1) Multiple business engines are firing.

(2) The pipeline of deals strong across many dimensions.

(3) Sabre is a complex transformation engagement won on the back of engineering and travel tech prowess. 

(4) The focus is on profitable growth. 

In the previous session, the IT stock closed 0.17% lower at Rs 8098.75 on BSE. Market cap of the firm fell to Rs 54,163 crore.

A total of 0.11 lakh shares of the firm changed hands amounting to a turnover of Rs 9.20 crore. Shares of Coforge fell to a 52 week low of Rs 4291.05 on May 9, 2024.

The IT stock is neither overbought nor oversold on charts with a RSI of 59.9. Coforge shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages, which indicates the momentum is bullish both in long and short term.  

Coforge reported a 10 per cent growth in adjusted net profit for the December quarter to Rs 268 crore. The profit attributable to the owners of Coforge, however, dipped to Rs 215.5 crore from Rs 238 crore in the year-ago period. 

Revenue came at Rs 3,318.2 crore, up 8.4 per cent quarter-on-quarter, and 40.3 per cent year-on-year in constant currency terms.

The board recommended an interim dividend of Rs 19 per share, and the record date for this payout was January 30, 2025.

Coforge Limited is an India-based information technology (IT) solution company. It is engaged in the in-application development and maintenance, managed services, cloud computing and business process outsourcing. The Company provides computer programming consultancy and related activities.